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What if we told you how you can save money, and make money at the same time? You could make twice as much as a savings account can give you, you can take the money back at any time, and there’s no hidden fees!
What’s the secret? Fixed Deposits! You probably have your money in a savings account right now. But FDs can earn you double the money.
Your savings account is probably earning you about 4-5% in interest a year. An FD on the other hand, will earn you approximately 7- 8.5%. So, hypothetically, 1 lakh in the bank could earn you 4000 bucks in a savings account, but 8500 bucks in an FD. Quick question. Which is higher?
Not only does an FD earn you almost twice as much, if you need cash you can break your FD within a day. You might lose a bit of interest, but no other investment option gives you that kind of liquidity.
Finally, You don’t pay any additional fees. There’s no brokerage, there’s no commissions, there aren’t even any maintenance costs. Like your uncomfortable flight seats, FDs are economical.
So let’s just make a quick list: higher returns, cash flexibility and no fees.
You’ve literally just got to relax and let your money do its thing. And once you have enough money saved, you can make the most of the BankBazaar Maha March Sale on all products! We’re talking India’s FIRST finance extravaganza :
oh hello so you want to know how to save money but what if we told you a way that you can save money and make money at the same time you can make twice as much as a savings account can give you you can take the money back at any time and there's no hidden fees what is the secret it's our topic on today's edition of fix deposits you probably have your money in a savings account right now but a fixed deposit can earn you twice the money Sorelli like my broken camera empties just have an image problem maybe they don't sound like something you should have because they're not exciting maybe of parents have them but not you I mean you don't see lottery winners going like I'll invest my savings in a nice safe ft thank you you just don't see that what do you know let's talk some people and find out so I'm asking people about money tell me would you consider yourself good with money I'm good at planning how I spend I guess I don't save much but I plan how I spend like what's your plan usually my plan is dictated to me by by an app on my phone good a spending not saving like money when I'm only good with do you know how to spend it at least yep I end up spending your money on travel and food is like good it sounds like a great idea for a TV channel so no travel to office and eating in office she how does an app determine how you spend your money it gives me an an estimate of how much I spend in a week so I know how much I should how much I should is there something where you spend your money and then the next day you like mom and I should have done that yeah well that's a sale what they call a sale spend shitload of money there that happens a lot suppose you won the lottery tomorrow what is the first thing you would do with that money oh I'll go up god I don't want to make it public that I have so much money I'll be like hey cool from tax oh my god that's the first thing you think I would have blow it up I'm gonna do what wall divided I'm gonna spar eat in my house so the income tax people do not know about oh you're goddamn right for an 18 year old you have very bad role models what do you think of when I say cool ice-cool oh my god I've been asking people what cool is but let me show you what cool is how do you put your money in fixed deposits Who am I kidding fixed deposits probably put their money with Raja I'm gonna go back downstairs so do you know about fixed deposits I thought of them but it's giving all my money one time so that makes me sad you give all your money you can put however much you want but do you know how they work so you basically for a sum of money in the account and you just leave it there for like a period of time and then it matures and it becomes like a lump sum and you get it suppose you want to take money back from the fixed deposit can you do that no this is called fixed but actually if you wanted the money back you could get it back pretty soon yes how long six months yo one B one day yeah I asked for the money I fill out a piece of paper and they give me so does all of this make fix deposit sound cool too you know yes yeah it helps you make more money see fix deposits get a bad rep but they're actually pretty badass you're three reasons why number one your savings account is probably earning you four to five percent in interest in your but a fixed deposit can get you seven to eight point five percent so hypothetically one lakh in the bank will get you four thousand bucks in a savings account but eight thousand five hundred and fixed deposit quick question which is higher do the math number two not only does a fixed deposit give you almost twice as much if you need cash you can break it within it be so it's like a childhood piggy bank in a lot of ways except that it's not made of ceramic and the money multiplies so you might lose a little bit of interest if you break an FP but no other investment option gives you that kind of liquidity number three there are no additional costs there's no brokerage there are no commissions there aren't even any maintenance costs so like you're uncomfortable flight seats fixed deposits are economical so let's just make a quick list higher returns cash flexibility and no fees you literally just have to sit back and let your money to the work and once you have enough money saved you can take advantage of the bank Mazar Mohamed Salem's all products we're talking India's first financial extravaganza watch me as I do just that go on you do it ring we do so much for you we give you all these money-saving tips like today where I'm sure you've gone away with something that you've learned from this video that is going to help you a lot in the future so one cue help us out like share and comment on this video and make sure to subscribe to bangles are calm for more tips for now and forevermore